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Zee Tele net declines 7.6% to Rs 29.60 cr

Our Bureau

MUMBAI, Oct. 22

ZEE Telefilms Ltd has reported a 7.6 per cent decline in net profit at Rs 29.60 crore for the quarter ended September 30, 2001, as compared to Rs 32.05 crore in the year-ago period.

Sales and services rose to Rs 104.60 crore (Rs 91.06 crore) and other income rose to Rs 18.55 crore (Rs 13.90 crore).

Its consolidated revenues increased by 17 per cent to Rs 266.7 crore.

The company said advertising revenues remained under pressure during the quarter. ``The impact of events in the US and the war in Afghanistan have dampened brand promotion activity across segments, impacting advertisement campaigns and product launches o f many clients,'' it said in a press release.

On the advertising revenue front, the company remains cautiously optimistic. ``Due to the economic sluggishness witnessed during this year, advertising revenues are expected to remain flat during the coming quarters,'' the release said.

However, subscription revenues from the domestic as well as the international markets continue to grow at a healthy pace.